Licensing fees will soon be decided in Nevada, iGaming Post | Poker & eGaming News | Scoop.it

Next month the Nevada Gaming Policy Committee will decide what gaming license applicants should pay $500,000 for an initial one-year license and $250,000 a year to renew it? Nevada will according to the proposition, also collect a gross gaming tax revenue, has the lowest proposed fees by far as well as the lowest tax rate in the nation at 6.75 percent. The Nevada Gaming Commission will meet June 21 do decide.  

 

California, has legislation pending that would require a $30 million license fee that would serve as a credit against monthly taxes imposed on gross gaming revenue. Just to apply for a license would cost from $1 million to $5 million. California is the largest demographic state with 30 million residents compared to Nevada’s 3 million.

 

Florida plans a nonrefundable $10 million fee credited against its 35 percent gross gaming tax in addition to an annual licensing fee of $500,000.

 

Massachusetts will seek a $10 million fee that would be credited against gross gaming tax revenue.

 

Other sources:

http://www.legalpokersites.com/blog/nevada-considers-lower-gambling-fees/ http://www.vegasinc.com/news/2012/jun/15/nevada-considering-some-lowest-online-gaming-licen/